RBC Launches $1.76 Billion Loan for Envestnet Leveraged Buyout [BNN Bloomberg (Canada)]
Envestnet, Inc (ENV)
Last envestnet, inc earnings: 2/20 04:05 pm
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Source: BNN Bloomberg
The debt package consists of a seven-year term loan, plus an eight-year, $375 million privately placed second lien term loan, according to a person familiar with the deal who isn't authorized to speak publicly and asked not to be identified. A lender call is scheduled for Sept. 12 at 11 a.m. New York time. Commitments are due Sept. 20, the person said. Price talk was not disclosed. Representatives for RBC, Envestnet and Bain Capital did not respond to requests for comment. Bain Capital and Reverence Capital Partners reached a deal in July for Envestnet. Including debt, the company is valued at $4.5 billion. BlackRock Inc., Fidelity Investments, Franklin Templeton and State Street Global Advisors agreed to invest in the transaction and will hold minority stakes in Envestnet when the deal closes. That's expected in the fourth quarter. The leveraged-loan market was expected to see a stronger activity near-term for acquisition-related financings, part of an anticipated rush of loan
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News
- Envestnet, Inc. (NYSE: ENV) had its "neutral" rating re-affirmed by analysts at DA Davidson. They now have a $63.00 price target on the stock.MarketBeat
- Are Options Traders Betting on a Big Move in Envestnet (ENV) Stock? [Yahoo! Finance]Yahoo! Finance
- Envestnet, Inc. (NYSE: ENV) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Johnson Fistel, LLP Investigates Envestnet Deal Terms and for Potential Violations of Fiduciary Duties on Behalf of ShareholdersGlobeNewswire
- ENVESTNET UNVEILS NEW TECHNOLOGY FOR RIAS AT FUTURE PROOF 2024PR Newswire
ENV
Earnings
- 8/9/24 - Beat
ENV
Sec Filings
- 9/16/24 - Form 8-K
- 8/30/24 - Form 4
- 8/30/24 - Form 4
- ENV's page on the SEC website